Medifast (MED) PT Lowered to $12 at Stephens

Stephens analyst Jim Salera lowered the price target on Medifast (NYSE: MED) to $12.00 (from $15.00) while maintaining a Equal Weight rating.

The analyst commented: "MED delivered 4Q25 revenue that was better than we expected, but the company continues to grapple with margin pressures from volume deleverage. The backdrop remains challenged as GLP-1 adoption and a value focused consumer weigh on client acquisition and category momentum. Into FY26, we believe the debate is centered on if improving coach productivity will yield a stabilization in total coach headcount. The hope would then be that an increasing number of coaches alongside MED's product refresh initiatives would translate to top-line momentum as it has historically. MED is focused on simplifying its offerings and sharpening metabolic health positioning to stay relevant in a GLP-1 influenced landscape. We believe that operating discipline and restructuring savings are important, but the key proof point will be a return to growth in the coach count. We are maintaining our EW rating and lowering our PT to $12 (from $15 prior)."

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